Hartford Business Journal

HARTFORDBUSINESS.COM | OCTOBER 2, 2023 13 CORNER OFFICE offerings, he said. "People consider food part of their theme park experience, so we need to make sure that we live up to that expectation," he said, adding that guest feedback is vital to making successful changes. Economic drivers Nationally, the amusement/water park industry is still recovering from the pandemic, recording $10.1 billion in value-added economic activity in 2021, up from $7.3 billion in 2020, according to the latest avail- able data from the U.S. Bureau of Economic Analysis. That's still down significantly from the $15.7 billion in activity the sector generated pre-pandemic in 2019. In Connecticut, the amusement and water park sector generated $53.5 million in valued-added economic activity in 2021, BLS data shows. Hemphill said attendance and spending at Lake Compounce are back to, or even above, pre-COVID levels. He declined to disclose specific numbers. Destinations like Lake Compounce are important drivers of state tourism and the economy, said Jan Jones, a professor and coordinator of the hospitality and tourism manage- ment program at the University of New Haven's Pompea College of Business. Hospitality, outdoor adventure and recreational facilities have been more sought after in the pandemic's wake, Jones said. However, a challenge for the industry is staffing, she added. Seasonal employers like theme parks, including Quassy Amuse- ment Park in Middlebury, have also been impacted by a higher minimum wage, which has increased in Connecticut from $11 in October 2019, to $15, as of June 1, 2023. Connecticut's minimum wage is set to increase again on Jan. 1, to $15.69. "This is a challenge across hospi- tality in general," Jones said of labor issues. Hemphill said Lake Compounce has been fully staffed with full- and part-time workers, and that theme parks in general rebounded well from the pandemic. One challenge he sees moving forward is all the other outdoor recreation/entertainment and even indoor activities competing for consumers' attention. "We need to make sure that we have unique offerings," Hemphill said. "And I believe theme parks, including Lake Compounce, have something (guests) can't get anywhere else. Sure, they can go play a roller coaster video game, but it's nothing like a real coaster. Especially some of the world-class coasters that we have here." Lake Compounce has some of the modern thrill rides guests SMALL BUSINESS SMALL BUSINESS See your business shine with a 4.5% fixed interest rate and personalized support, every step of the way. In just one year, the Connecticut Small Business Boost Fund has provided $39 million in loans to over 300 small businesses and nonprofits across Connecticut. We can help yours, too. GET STARTED TODAY AT CTSmallBusinessBoostFund.org desire, but it's also a park with a rich history that Hemphill says is imperative to preserve. The park's season pass base is growing, he said, in part due to more offerings patrons can enjoy. A new attraction this year included a floating stage on the lake that hosts live entertainment concerts. "And that was really a driving factor of season pass business and loyalty of the existing season pass holders, something that creates value and things we will continue to grow as we move into the future," he said. Jones praised many of the initia- tives Lake Compounce is working on, from more food choices to the music venue. "In Connecticut in particular, we have really amazing local (music) talent, or we have the ability to bring in artists, but we don't promote it as much," she said. Concerts help extend the amuse- ment park experience, Jones added. Lake Compounce Marketing Director Megan Forno said she is leveraging many platforms, including social media, "to bring Doug to life as the face of the park, using him as our voice and leadership to talk to all the newness, everything that we're doing," like "upping the ante" on the scare factor for the Hallow- een-themed attractions, including new mazes and 3D effects. On tap is the Holiday Lights event, and then next season's rollout of the restored Wildcat wooden roller coaster, which will be 100 years old in 2027. "We're really excited to have it operating next year and for its 100th anniversary," Hemphill said.

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